St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1887-05-25
AT the Opening on the Chicago Beard Of
Trade the Realizers Increased
in Number,
Owing Chiefly to Local Rains and Re-
ports of Showery Condition at
Various Points.
Heavy Receipts Of Wheat From the North
west Also Tended to Decrease
the Quotations.
Transactions in The Financial Circles
OF Wall Street.-The General
Quotations.
srecial TO the Globe.

Special 10 the Globe.
CHICAGO, May 24-New York was strong
this morning on wheat, and the clearances,
1872. 600 bushels, were liberal. The clique is
said 10 be looking after the cash wheat
through Broker Seymour There was little
uncertain feeling in the June option this
morning, and outsiders sold it with consider
able freedom. The option touched SSc with
out the clique apparently coming to the aid
of the market at all. At SSc, however, the
June option was pegged. There was just
about rs much bull news as ever for the out
side. From New Orleans 10000 bushels of
wheat cleared for France yesterday At
New York an immense export business was
going on, which promised as big results as
Yesterdays. The shipments from Minneapo-
lis only $1,000 bushels, made it look as if
the talk of 1000, 900 bushels starting from
there this week was big bluff. Then the
estimates ON to-morrow's receipts put the
wheat, car lots, at 175-a big falling off from
to-day. New York was full of sensational
stories about the Chicago deal, but the repre-
sentatives here seem TO be taking things COM
paratively comfortable. This sagging off has
the effect of causing a great deal of selling of
the cornered option and it is
FAvORITE ADAGE
of Armour's, that when he is bulling mar
ket he feels all right so long as the bears will
keep selling to him. The wheat deal is now
in this phase, that the bulls at the Cincinnati
end have a bigger stake than anybody else
and must fight. 1t is not reasonable to suppose
that they will surrender at SSc at Chicago.
with wheat at 97c at New York, at soc at st.
Louis and Detroit, and with an enormous ex-
port demand to help them. The deal is in no
de-, Ct-o ~ ;.rl1
the feeling in wheat was so very strong that
the crowd, under Hutchinson's lead, were
paying S9ls@S94c for June, and SSIsMSS4c
for July wheat. This morning they sold lie
lower. Some of the old heads remarked that
the curb was seldom so strong that the open
ing the next morning was weak, vet the
alarm was so general that last night there
was very little realizing. The local rains and
q showery condition generally increased the
number of realiZers at the opening this morn
ing. When ii was seen that he tclioue was
not in the pit this morning there was a rush
TO sell by the smaller traders and great haste
to short the market by the big bears. The re-
ceipts of wheat, 40 cars, very large share
of which came in over the Chicago, Milwau-
kee & ST. Paul and the Chicago 4 Northwest
ern roads, bore out, apparently, the predic-
ton that the recent rail cut on the big gran
gers was going to bring good deal of North
west wheat here at once. Clever operators
are now trying TO decide whether the CLIQUE
will ease off the market so as not to be com
PEELED to pay so high up for the next weeks
receipts, or will rush up prices before the big
movement. so as to get a great lot of wheat
settled before the shorts begin to lean back
on the big arrivals. OF course, q large part of
the incoming wheat is already sold, but all
that starts in from the intermediate stations
is probably not.
THE ROUTINE REPORT
CHICAGO. May 24.-The local rains and a
shoWery condition generally, increased the
number of realiZers at the opening the market
this morning. The receipts of wheat, 40
cars, very large share of which came in
over the Chicago, Milwaukee & st. Paul and
the Chicago Northwestern railroads. bore
out apparently, the prediction that the
recent rail cut on the big graRgers was going
TO bring good deal of Northwest wheat
here at once, and this too, had weakening
effect on prices. The crowd was very bearish
and determined to sell June wheat. 1t was
currently reported and generally credited
among them that the clique was unloading
June and changing to the July option, con-
sequently there was a disposition to sell the
former and buy the latter, and July really be-
came the more active option. June wheat
opened at see, dropped Immediately to SSAc,
and recovered gradually to SSI2c, where
it held steady for some time Toward
midday it again declined to SSc. at
which point the clique came in with buying
orders for the first time in the day. They
took everything offered at Sc, and did not
allow the market to go below that price. For
the latter part of the morning session the
price for June ranged between soc and
SSI4c, with trading fairly active in June,
G tb an ana August 5l; futures June closed for
the day at S!l2e. July opened at SSc, and
sold of 2 points during the day, closing at
soc. The trading. in corn, taking the day
throughout was heayier than for several
months months. Ream bought nearly million
pushels early, and there were also scattering
buyers OF lesser amounts. Corn opened weak
at ,4OSs@ 4OI2c for July, and sold down to
4o14e III the first hours trading, and after.
wards to doc, at which figure it closed for the
Tbs started at S7.32l2 and closed at 81. %.
July lard sold down from Sc 80 to sc. rs.
THU QUOTATIONS.
Inc leading futures ranged as follows
Wheat-No. May, S7Ac, closing at s6s4c
June, soc, closing at s7lSc; July
use fH closing at sec; August, s5l2c clos
ing at 37s4c; June; $3.50, closing at 37slc
July, 4O9sc, closing at 4Oc; August,
99II2c, closing at 41Ac. Oats-No. May,
252e$ic, closing at 25&c; June, 26c4, closing at
gust. 264Sc, closing at 26lsc Mess pork
June, 40 S2s, closing at SIS. a. Lard I'd
PEI 1o0 IDS, May, So.6o, closing at S6.62l2
June, S6.67l2 closing at S6.65; July, Sc. so,
closing at SEQ. August, So s7i2, clos,
1M9 gr at T. So $3.50; Short .Libs-per 100 lbs,
Sc!99S5iEng at S1.15; July, S7,3212, closing at
SO; August, S7.42I2, closing at S7.35.
Cash quotations were as follows: Flour dull,
neglected, and prices unchanged Wheat
10; : spring, size; No. spring wheat, n
@!Jc; No. red, S7l2c. CornSNo. 3, 3sc;
SOats|No; 2. 26c. Rye-No. 2, SEC Bar,
1eyoNo.2, SIC. Flax seed-No. l, 81 .I284@
10. Prime timothy seed, S1.75@1.76. Mess
PGGrk per Dbl S23 Lard, per 100 lbs Sc. IS.
sailed shoulders, boxed, S. .6O@5. 70: short
clear sides, boxed, S760@7. IS. Whisky
Dlstillers' finished. goods, per gal. S11o.
Sugars Cut, loaf, 6ss@658c; granulated.
55sc: standard A 5s4c Receipts-FIour''
21,O00 bbls; wheat 10000 bu; corn, 1873,
600 b9; oats, 2s6,000 bu; rye, 500 bu; bar
ley, $4,000 bu; Shipments-Flour, 10000
bbls; wheat, 105, 900 bu; corn, 81 900 bu
oats, 100000 bu; rye, 1000 Blu; barley
1000 blu. On the produce exchange to-day
buffer